All Forum Posts by: Torrence L Stump

@Thomas S, Apparently, you didn't fully comprehend what I said in my discussion post. Who are you to tell me to get my life in order first? You take a snapshot of my discussion post, and now your passing negative judgement on me. You don't know me personally, to make those empty assertions about me.

Furthermore, in terms of you stating that I'm bringing nothing to the table, that's factually not accurate. I simply wanted to know and inquire, if the option is available with hard money lenders for 100% financing, with no income verification or W2's. 

Contrary, to what you think, but don't know, I have my priorities in order. Additionally, I don't plan on ever working a W2 job again in life. It's a disservice for you to be on this platform spewing negativity. Instead of trying to tear someone down, try to lend a hand up. Unlike you, I'm here to network and build relationships, not destroy them. Just remember, you never know who you may need one day.

@Lloyd Stanton, I appreciate your positive encouragement. I will certainly keep networking and have the  hopes that I will find the money!  Thanks!

@Ned Carey, I noticed that you just mentioned the 100% financing portion of my post in your reply. Worst case scenario, I can produce some cash. The more significant piece of my post is the no income verification and the W2's. As I prefaced in my discussion post, I've been in school and not working consistently. Also, I actually have experience in lending with residential lending in Real Estate, not hard money. In the past, I have been a loan officer for broker companies and national banks. Ironically, I just never ventured into doing loans for myself. I've procrastinated doing this for quite some time. In my mind, I made myself believe that I didn't have all my ducks in a row. However, at this present time, my attitude is that I will find a way to make it happen. 

Hello to everyone on the BiggerPockets platform. I'm looking to do my first investment deal using hard money. I have currently been in school for the last few years. During this time, I have work a few dead end jobs here and there, nothing too steady. My working history during this time have been inconsistent and unstable, but my credit history is still pretty stable. However, due to to my inconsistent work history, its 's not possible for me to obtain a convential bank loan. So, I began to research hard money lenders.  

After talking to a few hard money lenders, I notice that majority of them want you to already have purchased the property, so that they can evaluate the loan ARV. However, I'm looking to find hardmoney lenders that I can utilize to actually help purchase the property. Additionally, I'm finding that many realtors will not take you serious, unless you have a pre-approval from a lending instution. A real catch 22! With that being said, please feel free to leave any suggestions on obtaining legit, hard money lender loans with 100% financing, with no income verification, or W2's. I thank you in advance!